31-516 (Blanket Order) - Registration Requirement Exemption for Investment Fund Managers

Securities Act
R.S.P.E.I. 1988, Cap.-S-3.1

Document Type: Blanket Order
Document No.: 31-516
Subject: Exemption from the Requirement to Register as an Investment Fund Manager
Effective Date: July 5, 2012

Blanket Order 31-516

Exemption from the Requirement to Register as an Investment Fund Manager

Part 1 Definitions

1.1  Terms defined in the Securities Act, National Instrument 14-101 Definitions, or National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103) have the same meaning in this order.

Part 2 Background

2.1  Section 16.5 of NI 31-103 provides temporary exemption from the investment fund manager registration requirement for investment fund managers registered in the jurisdiction of Canada in which their head office is located.

2.2  Section 16.6 of NI 31-103 provides a temporary exemption from the investment fund manager registration requirement for investment fund managers that do not have a head office in Canada.

2.3  These temporary exemptions expire on September 28, 2012.

2.4  July 5, 2012 the Superintendent published for adoption (effective September 28, 2012) Multilateral Policy 31-202 Registration Requirement for Investment Fund Managers (MP 31-102) relating to the investment fund manager registration requirement.

2.5  The Superintendent is extending these temporary exemptions so that investment fund managers affected by the new MP 31-202 will have until December 31, 2012 to apply for registration.

Part 3 Order

3.1  A person or company that is acting as an investment fund manager in Prince Edward Island and is registered as an investment fund manager in the jurisdiction of Canada in which its head office is located is not required to register in Prince Edward Island:

(a)  until December 31, 2012, or

(b)  if the person or company applies for registration as an investment fund manager by December 31, 2012, until the Superintendent has accepted or refused the registration.

Part 4 Effective Date

4.1  This Order will come into effect on September 28, 2012.

Dated at Charlottetown, Prince Edward Island, this 5th day of July, 2012.